On Wednesday our vacancy rate hit 3.3% due to the first of the month move outs. Due to the turn-over time it takes to prep a unit for rental, the vacancy rate will drop as new tenants move in. This is the typical pattern of high vacancy at the first of the month, lower vacancy at the end of the month.

Signs of Stronger Real Estate Market:

Below is a link to an article in the Wall Street Journal regarding signs that the housing market has hit bottom and the bidding wars between buyers.